11/13/2022 0 Comments Tavern tycoon buy property![]() It is here where Larry had a lightbulb moment and would go from being a C student to excelling academically and getting straight As.įrom the first day he set foot on campus, Larry was determined and relentless in his pursuits. But Larry values education and has dedicated himself to life-long learning – it may just not look like the traditional classroom.Īfter graduating from Dayton’s Alter High School in 1968 with a 2.0 GPA, Larry attended Ohio University. His parents were told he should consider trade school. He lacked focus and couldn’t sit still in the classroom. The traditional school environment did not suit Larry. Today, having established himself as a successful real estate and technology entrepreneur and avid adventurist, Larry hustles through his day with the vigor of someone who won’t or perhaps can’t slow down, but always makes time to help others. He commits to his decisions after consulting with people who are knowledgeable and believable, and then he aggressively pursues audacious goals. Larry’s urgency around decision-making and communication comes from a deep-seated sense of responsibility for the people in his life – it always comes back to people. This deep commitment drives his decision-making even in difficult circumstances – especially in difficult circumstances.Īs the son of a Marine who fought in the Pacific in World War II, and whose mother aided soldiers with her Red Cross service half a world away in Europe, Larry makes decisions based on a sense of responsibility and self-accountability. Larry Connor lives as if he has taken an oath to his principles and values. Military recruits take an oath to defend the Constitution. “When considering the sale of the Hotel Steyne in the context of our recent key transactions concluded in multiple states nationally this year, it remains our considered view that market strength and depth are not only positive, but also currently serve to embolden an already robust asset class," said Mr Dragicevich.Doctors take an oath to care for their patients. Mr Jolliffe said that on the back of "already strong and strengthening business fundamentals, the pub sector was a well capitalised, represented and operated asset class that remains outweighted by demand when considering transactionable supply". Hotel Steyne was marketed and sold by Andrew Jolliffe and Dan Dragicevich of pub and hotel specialist HTL Property. The acquisition of the Hotel Steyne follows Iris Capital buying the Shaft Tavern in Newcastle for about $12 million in November and his September swoop on three regional pubs, the Sydney Junction Hotel in Hamilton, the Gunyah Hotel in Belmont and the Argenton Hotel in Glendale last September purchased for about $30 million. “This positions our company, Iris Capital, as a genuine hospitality leader in this part of the world, and complements our macro coastal investment strategy," he said. Mr Arnaout, who is also developing $700 million East End project in the centre of Newcastle, called the Hotel Steyne Australia's "leading hotel property". The sale to Iris Capital gave the Sydney development and investment company its 21st venue, standing alongside inner city pubs like the Colombian Hotel and Gaslight Inn. The corner venue was originally built in 1859, and then remodelled by brewer Tooth & Co in 1936. Since then, millions have been poured into refurbishing the three-level hotel on almost 2000 square metres, including adding upmarket venues like The Glasshouse with its Gin & Tonic Bar. Hotel Steyne last changed hands for $27 million in 2010 when Singo & Co bought it from Sydney bookmaker Bruce McHugh and his family. The 160-year-old hospitality venue at 75 The Corso opposite Manly Beach was put up for sale in February as the high-powered investment partners sought to sell out at the top of the market. In a veritable changing of the pub ownership guard, 43-year-old Mr Arnaout acquired the historic waterfront pub from industry veterans John Singleton, Arthur Laundy, Robert Whyte and investment banker Mark Carnegie. Sydney property tycoon Sam Arnaout's Iris Capital has bought Manly's Hotel Steyne for about $65 million making it his fifth pub acquisition in the space of nine months. ![]()
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